In Python, how to change text after it's printed?

I have a Python program I am writing and I want it to be able to change text after it is printed. For example, let's say I want to print "hello" and erase one letter every second. How would I go about doing that?

Also, I heard about curses but I can't get that to work, and I do not want to simply create new lines until the old text is off the screen.